NY A09213

Prohibits operation of a vessel in the state until the owner or operator furnishes evidence of financial responsibility to the department and receives approval.

Establishes financial responsibility requirements for major facilities (non-vessel) at $25 plus annual inflation adjustments per barrel of petroleum storage capacity, with a maximum of $1 million per incident and $2 million per facility per year (adjusted annually for inflation).

Allows financial responsibility to be demonstrated through insurance, surety bonds, guarantees, letters of credit, self-insurance, or other approved methods, with third-party insurers' liability limited to the type and amount of coverage specified.

Requires proof of financial responsibility to expire after one year for self-insurance or upon change, expiration, or cancellation of other financial mechanisms, with 30-day advance notice required for changes or renewal applications.

Creates new railroad financial preparedness requirements mandating annual submission of information from railroad companies transporting crude oil regarding their ability to pay for worst-case discharge scenarios, with findings posted publicly and recommendations provided to the legislature.